Egypt currently has a large influx of major international companies that want to enter into and implement projects in the field of clean energy and new and renewable energy. I wonder what the secret is in how many of these companies want to enter into and implement investments in the fields of new energy… and Egypt aims to reach the production of renewable energies to how many megawatts In the coming years
In this period, Egypt has completed the preparation of the Renewable Energy Strategy 2040, which aims to reach the percentage of renewable energies on the unified electricity grid to 40% by 2030, and to reach the volume of renewable energies to 60% by 2040, especially since the increase in new energies will provide Egypt with many billions of government dollars at its disposal. In importing and supplying biofuels that Egypt uses to operate power plants, whether from natural gas, diesel or Other things used to start engines.
Ok, what is the secret to the increase in electricity production contracts from new and renewable energies that Egypt signed in the past months?
In the past period, Egypt signed a large number of contracts with foreign companies to implement new and renewable energy projects from the sun and wind, especially since the contracts signed by Egypt stipulate that the Ministry of Electricity and Renewable Energy will purchase the electricity that these companies will produce from solar and wind energy stations, a large portion of which will be In dollars.
The electricity supply contracts signed by Egypt also stipulate that the Egyptian Electricity Transmission Company will purchase the production of foreign companies throughout the life of the stations, which preferably operate for 20 years for solar energy and 25 years for wind energy.
Electricity supply and purchase contracts also stipulate that it will be responsible for providing the dollar portion of renewable energy projects to foreign companies, and the Egyptian Electricity Transmission Company will send consumption bills and the amount required to be provided in foreign currency to the Central Bank of Egypt, which will be responsible for providing and paying it to the companies.
Ok, why will Egypt pay part of foreign companies’ dues in dollars?
Simply put, the state will pay a large portion of the dues of foreign companies that implement new and renewable energy projects in dollars because these companies buy all the supplies and components for the projects in foreign currency, and a very small portion of the supplies and supplies that go into manufacturing and building the stations are salt products. That’s why the government is trying It compensates for a percentage of the numbers that foreign companies will pay in dollars.
The main reason for the new projects are the electrical interconnection projects that Egypt is currently signing with foreign countries, such as the Egyptian-Saudi electrical interconnection project, and the electrical interconnection project with Sudan and Libya. This is not the electrical interconnection projects with Greece and Cyprus, especially since the government has a plan to transform Egypt into a regional center for energy exchange between… The three continents of the world: Africa, Asia and Europe, and Egypt will be the link between the electrical interconnection network between the countries of the world.
